Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

HK Paintings a Choosy Market

October 6, 2009 by Marion Maneker

Reuters‘s James Pomfret sums up the painting sales in Hong Kong:

“People are more conservative now and they’re just waiting for the piece they really like and then go for it,” said Anthony Tao, a Hong Kong gallery owner and dealer at the sales. “It (the market) will only move up step by step.” […] In the Asian contemporary sale, Chinese artists once again dominated. […] solid results were seen for the works of Liu Ye, Li Songsong and Fang Lijun, with most top lots bought by mainland Chinese collectors.

“It was already up from what we expected,” said Budi Tek, an Indonesian-Chinese collector at the sales, who was hoping to pick up some bargains with the Chinese contemporary market widely seen to have fallen by at least half what it was at its peak.

“I think we’d like to see some good works selling a little bit lower for us to pick up.” There were however, a number of big misses, as collectors opted for quality and more reasonably priced works.

Of the 23 percent of artwork unsold were a number of contemporary Chinese works once in the hands of prominent British collector Charles Saatchi, including a large “ash head” sculpture by Zhang Huan and a wax waterfall by Zheng Guogu.

Mixed Results at Sotheby’s Chinese Paintings Sales (Reuters)

More from Art Market Monitor

  • Keeping Score Down UnderKeeping Score Down Under
  • The Tate and DecencyThe Tate and Decency
  • Asher Edelman on Art Assure's 3rd Party GuaranteesAsher Edelman on Art Assure's 3rd Party Guarantees
  • Christie's Prints & Multiples Highlights (NY Muly, 2010)Christie's Prints & Multiples Highlights (NY Muly, 2010)
  • Christie's Russian Art and Works of Art ResultsChristie's Russian Art and Works of Art Results
  • The Economist's Latest Art Market ConspiracyThe Economist's Latest Art Market Conspiracy

Filed Under: Auction Results

About Marion Maneker

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

Top Posts

  • After Pandemic’s Rapid Change, Sotheby’s Has 8 Predictions for 2021
  • Keith Haring’s 1989 Retrospect Comes to Sotheby’s London Prints Sale
  • Tony Podesta's Secret Art Buying
  • A Season of Improvisation: Fall 2020 New York Modern and Contemporary Art Auction Analysis
  • Four of Picasso's Women Valued at $28m Come to Christie's from Rose-Walters Collection
  • Norman Rockwell's Not Gay. But Is He a Great Artist?
  • Roy Lichtenstein’s Top Ten Auction Prices
  • How to Chant Like an Auctioneer
  • Basquiat's Last Girlfriend
  • Phillips Includes $2.5m Norman Rockwell Painting in November Evening Sale
  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor